15 AI News That Broke The Internet

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1. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 158

Apple Inc. (NASDAQ:AAPL) is a technology company that has risen in prominence within the AI investment sphere after the debut of Apple Intelligence, its AI-powered personal intelligence system. On December 2, UBS kept a “Neutral” rating on Apple (AAPL) with a $236 price target. The firm performed a recent survey of over 7,500 smartphone users in the U.S., UK, China, Germany, and Japan, revealing that iPhone demand is soft considering the interest surrounding artificial intelligence “remains muted.”

The firm further noted that the 12-month global iPhone purchase intent was unchanged in the U.S., and AI-related responses were unchanged as well.  Pricing remained the top concern among 51% of participants. Despite the muted demand for iPhones and weak interest in GenAI applications, the firm slightly raised its 2024 and 2025 global ‘smartphone’ sell-in estimates from 1.20B and 1.22B units to 1.21B and 1.24B respectively.

While we acknowledge the potential of AAPL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than AAPL but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

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